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Mobile Security Software Market Witness Huge Growth by 2030 | VMware, Apple, Microsoft

Mobile Security Software Market

Mobile Security Software Market

The market research made on the mobile security software shows a potential growth at the valuation of USD 42.13 Billion during the forecast timeline which with 2030 with a CAGR of 14.58%. The market for mobile security software is growing and further is likely to offer some of the best opportunities in the BFSI, defense, healthcare, government, IT, and telecom sector. There are some prominent drivers for such market growth which are also growing the risk of cyber-attacks on mobile devices. There has also been a rise in the trend of bringing their own device to many companies. The market is now looking for a better scope with the mobile security emergence as one of the efficient services since it is estimated to offer an easy, faster, and quick solution for the companies so they can meet their IT needs without any risk to create their own infrastructure or make an investment to maintain, develop, and even create the resources.

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Key Players: -
• F-Secure Corporation (Finland),
• Citrix Systems, Inc. (US),
• Kaspersky Lab (Russia),
• AVG Technologies (Czech Republic),
• Sophos Group PLC (UK),
• Apple Inc. (US),
• Intel Security (US),
• Symantec Corporation (US),
• VMware, Inc. (US), and
• Microsoft Corporation (US).

There has been an increase in the conditions of confidential data theft which is a majority of the customer's crucial aspect after they have started choosing mobile payment security software for mobile phones. Such an option could protect the fraudster against the debit and credit card information as the whole payment transaction requires authorization to be done between the acquirer of the merchant and the bank that has issued it. The increased m-commerce addition along with mobile banking is likely to boost mobile payment security software adoption. There is also a good growth required for protecting the personal financial data amongst the consumers which are also promoting industrial growth.

COVID-19 Analysis
The pandemic crises that occurred due to Covid-19 have resulted in too many companies being shut down and examining their business continuity plans closely and thus focusing on remote work readiness. Working in remote areas can often result in a weak connection to the security ecosystem as the workers decide to access the network using public Wi-Fi. The Covid-19 pandemic crisis has caused people to confine themselves for a long time at home. This way has been influencing companies for adopting security solutions for the endpoints of mobile phones.

Market Segmentation
The MRFR report throws light on an inclusive segmental analysis of the global mobile security software market based on type.
By type, the global mobile security software market is segmented into mobile virtual private networks, email spam blocking, mobile device security mobile security as a service, mobile identity management, and mobile data security. Of these, the mobile device security segment will lead the market over the forecast period. It is likely to grow at a 10.2% CAGR by 2027. These security devices help in protecting every mobile device including tablets, notebooks, and smartphones from cyberattacks. It helps to block malware and other forms of advanced threats like unauthorized network accessibility on different mobile devices. It is done through cloud-based software which has the capability to effectively perform inspection and malware analysis on such devices.

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Regional Analysis
The regional analysis made on the market shows that North America is the trending region with a good market share and is likely to rise in the future during the assessment period. The increased number of mobile employees in the area and the rise in the BYOD trend in businesses are some of the crucial demand drivers for the mobile security software solution. The increased cyber-attacks incidence has further contributed to the security concerns range and that is why companies are looking for robust solutions for mitigating the increased cyber threats risk.

Industry Updates
March 2021- With an aim to protect mobile devices against war fighters, the Defence Innovation Unit of Pentagon is readying to ramp up mobile security. It is coming up with a mobile threat application which will analyse for issues on Défense Department-issued devices and shares findings in the cloud. DOD should safeguard mobile devices against attacks like malicious risky apps, phishing, network attacks, and operating system exploitation.
McAfee on March 2019 expanded its partnership with Microsoft to offer McAfee MVISION Cloud and implement seamless contextual access control.

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